Wells Fargo & Company, headquartered in San Francisco, is one of the nations largest financial institutions. It

Question:

Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions. It reported the following selected accounts (in millions) as of December 31, 2006.

Retained earnings ........................$35,277

Preferred stock ..........................384

Common stock—$12/3 par value, authorized 6,000,000,000 shares;

issued 3,472,762,050 shares ....................5,788

Treasury stock—95,612,189 shares ................(3,203)

Additional paid-in capital—common stock ..............7,739

Instructions

Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of

December 31, 2006.


Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  book-img-for-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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